Hero Enterprise, an insurance broking that has interests in insurance distribution, steel-making, real estate and corporate training, formed a £500m joint venture with Catalyst Capital, a European real estate investment and asset management firm. The joint venture will invest in and develop hotels, serviced apartments and hospitality-led projects, initially in the UK and Ireland. The JV is aiming to develop multiple projects with a significant equity commitment to acquire land and buildings. It will also look to invest alongside other landowners, owners or developers holding opportunities with hospitality potential. “We believe this is an opportune time to expand our hotel development programme, leveraging the experience and expertise at Catalyst Capital combined with the reputation, management strength and credibility of Hero Enterprise." Rob Skelston, Hero Catalyst Hospitality Ventures Head of Development.